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African Private Sector Leaders Convene in Addis Ababa to Unlock Capital and Scale SDG Delivery

By
Advertorial Desk
-

ADDIS ABABA, Ethiopia, May 1, 2026 /PRNewswire/ — African business leaders, investors and policymakers have called for a step change in how private capital is mobilised and deployed across the continent, as the UN Global Compact, in partnership with the United Nations Economic Commission for Africa (ECA) and the United Nations Development Programme (UNDP), convened a high-level Private Sector Forum on 27 April in Addis Ababa.

Held on the margins of the 12th Africa Regional Forum on Sustainable Development (ARFSD-12), the Forum brought together senior decision-makers to move beyond commitments and accelerate the flow of capital into bankable, scalable projects aligned with the Sustainable Development Goals (SDGs) and Africa’s Agenda 2063.

Under the theme “Forward Faster: Scaling Private Sector Partnerships to Accelerate the SDGs in Africa,” discussions focused on closing the persistent gap between capital availability and project execution, one of the central barriers to sustainable development across the continent.

The Forum identified five priority areas where coordinated action between business, finance and government can deliver rapid, system-level impact: water and sanitation infrastructure, affordable and reliable energy, sustainable urban development, industrial value chains and the expansion of blended finance mechanisms to crowd in private investment.

Dr Hervé Lado, Africa Head at the UN Global Compact, said: “Africa does not lack capital, it lacks the conditions to deploy it at scale. What we heard clearly in Addis Ababa is that businesses are ready to lead, but they need to structure more bankable pipelines, with credible partnerships, and most importantly to catalyze enabling policy environments with governments. Through Forward Faster, we are helping companies turn ambition into measurable action and ensuring that private capital flows to where it can accelerate the SDGs by delivering the greatest impact for people and planet.”

A central highlight of the programme was a fireside discussion featuring Mr Deribe Asfaw, CEO of the Cooperative Bank of Oromia (CoopBank). Mr Asfaw provided a practical blueprint for how African financial institutions can bridge last-mile financing gaps by leveraging digital innovation to support micro, small and medium-sized enterprises (MSMEs). Reflecting on the success of the bank’s impact-driven models, he stated: “Our alignment with the SDGs is not a policy decision; it is who we are. For example, using blended finance, we developed Michu, a digital, uncollateralised lending platform which uses data for credit scoring, provides instant access to finance and targets MSMEs and underserved customers across trade, services (finance, health, transport and tourism), manufacturing, construction and agriculture. The platform has disbursed over ETB 52 billion (USD 400 million) to nearly 3 million customers, achieving 80% youth and 80% women inclusion, creating approximately 2.7 million jobs, and therefore serving directly over 10 SDGs.”

Roundtable discussions addressed the structural bottlenecks that continue to constrain investment, including project preparation gaps and perceived market risks. Participants explored success stories from across the continent, focusing on risk-sharing instruments and regional project aggregation models designed to build robust pipelines of investable opportunities.

Closing the forum with a call for deeper institutional integration, Ms Ngone Diop, Director of the ECA Sub-Regional Office for West Africa, emphasised that the private sector’s role extends far beyond capital provision to being a primary driver of industrial transformation.

“Africa’s development ambitions are clear, but the scale of financing, innovation and delivery required cannot be met by public resources alone. The private sector is not only a source of capital. It is a driver of jobs, technology, value chains, industrial transformation and practical solutions in the sectors that matter most to our people: energy, water, infrastructure, cities, agriculture, finance, digital innovation and enterprise growth. The Private Sector Forum has therefore been designed to move us from conversation to action. Let us identify where capital can move, where partnerships can deliver and where policy and financing can work together to accelerate progress on the SDGs. Let us be innovative, practical, yet ambitious,” she noted.

The outcomes of the Forum informed directly intergovernmental deliberations at ARFSD-12 and will feed into global discussions at the upcoming High-Level Political Forum, reinforcing the central role of the private sector in delivering sustainable development.

The Forum concluded with a clear message: Africa’s development trajectory will be shaped by its ability to mobilise private capital at scale and deploy it efficiently. With public resources under increasing pressure, partnerships between governments, businesses and development institutions are no longer optional but essential.

Through its Forward Faster initiative, the UN Global Compact continues to support companies in building capacities, setting ambitious targets, strengthening accountability and scaling solutions across markets. By aligning capital, policy and partnerships, the initiative aims to ensure that sustainable development in Africa is not only achievable, but investable.

About the UN Global Compact
As a special initiative of the United Nations Secretary-General, the UN Global Compact is a call to companies worldwide to align their operations and strategies with Ten Principles in the areas of human rights, labour, environment and anti-corruption. Our vision is clear: to mobilize business to transform sustainability ambition into action at the scale the world demands. With more than 25,000 participants and a presence in over 100 countries through 5 Regional Hubs and more than 70 Country Networks and expansion territories, the UN Global Compact is the world’s largest corporate sustainability initiative.

African Private Sector Leaders Convene in Addis Ababa to Unlock Capital and Scale SDG Delivery

By
Advertorial Desk
-

ADDIS ABABA, Ethiopia, May 1, 2026 /PRNewswire/ — African business leaders, investors and policymakers have called for a step change in how private capital is mobilised and deployed across the continent, as the UN Global Compact, in partnership with the United Nations Economic Commission for Africa (ECA) and the United Nations Development Programme (UNDP), convened a high-level Private Sector Forum on 27 April in Addis Ababa.

Held on the margins of the 12th Africa Regional Forum on Sustainable Development (ARFSD-12), the Forum brought together senior decision-makers to move beyond commitments and accelerate the flow of capital into bankable, scalable projects aligned with the Sustainable Development Goals (SDGs) and Africa’s Agenda 2063.

Under the theme “Forward Faster: Scaling Private Sector Partnerships to Accelerate the SDGs in Africa,” discussions focused on closing the persistent gap between capital availability and project execution, one of the central barriers to sustainable development across the continent.

The Forum identified five priority areas where coordinated action between business, finance and government can deliver rapid, system-level impact: water and sanitation infrastructure, affordable and reliable energy, sustainable urban development, industrial value chains and the expansion of blended finance mechanisms to crowd in private investment.

Dr Hervé Lado, Africa Head at the UN Global Compact, said: “Africa does not lack capital, it lacks the conditions to deploy it at scale. What we heard clearly in Addis Ababa is that businesses are ready to lead, but they need to structure more bankable pipelines, with credible partnerships, and most importantly to catalyze enabling policy environments with governments. Through Forward Faster, we are helping companies turn ambition into measurable action and ensuring that private capital flows to where it can accelerate the SDGs by delivering the greatest impact for people and planet.”

A central highlight of the programme was a fireside discussion featuring Mr Deribe Asfaw, CEO of the Cooperative Bank of Oromia (CoopBank). Mr Asfaw provided a practical blueprint for how African financial institutions can bridge last-mile financing gaps by leveraging digital innovation to support micro, small and medium-sized enterprises (MSMEs). Reflecting on the success of the bank’s impact-driven models, he stated: “Our alignment with the SDGs is not a policy decision; it is who we are. For example, using blended finance, we developed Michu, a digital, uncollateralised lending platform which uses data for credit scoring, provides instant access to finance and targets MSMEs and underserved customers across trade, services (finance, health, transport and tourism), manufacturing, construction and agriculture. The platform has disbursed over ETB 52 billion (USD 400 million) to nearly 3 million customers, achieving 80% youth and 80% women inclusion, creating approximately 2.7 million jobs, and therefore serving directly over 10 SDGs.”

Roundtable discussions addressed the structural bottlenecks that continue to constrain investment, including project preparation gaps and perceived market risks. Participants explored success stories from across the continent, focusing on risk-sharing instruments and regional project aggregation models designed to build robust pipelines of investable opportunities.

Closing the forum with a call for deeper institutional integration, Ms Ngone Diop, Director of the ECA Sub-Regional Office for West Africa, emphasised that the private sector’s role extends far beyond capital provision to being a primary driver of industrial transformation.

“Africa’s development ambitions are clear, but the scale of financing, innovation and delivery required cannot be met by public resources alone. The private sector is not only a source of capital. It is a driver of jobs, technology, value chains, industrial transformation and practical solutions in the sectors that matter most to our people: energy, water, infrastructure, cities, agriculture, finance, digital innovation and enterprise growth. The Private Sector Forum has therefore been designed to move us from conversation to action. Let us identify where capital can move, where partnerships can deliver and where policy and financing can work together to accelerate progress on the SDGs. Let us be innovative, practical, yet ambitious,” she noted.

The outcomes of the Forum informed directly intergovernmental deliberations at ARFSD-12 and will feed into global discussions at the upcoming High-Level Political Forum, reinforcing the central role of the private sector in delivering sustainable development.

The Forum concluded with a clear message: Africa’s development trajectory will be shaped by its ability to mobilise private capital at scale and deploy it efficiently. With public resources under increasing pressure, partnerships between governments, businesses and development institutions are no longer optional but essential.

Through its Forward Faster initiative, the UN Global Compact continues to support companies in building capacities, setting ambitious targets, strengthening accountability and scaling solutions across markets. By aligning capital, policy and partnerships, the initiative aims to ensure that sustainable development in Africa is not only achievable, but investable.

About the UN Global Compact
As a special initiative of the United Nations Secretary-General, the UN Global Compact is a call to companies worldwide to align their operations and strategies with Ten Principles in the areas of human rights, labour, environment and anti-corruption. Our vision is clear: to mobilize business to transform sustainability ambition into action at the scale the world demands. With more than 25,000 participants and a presence in over 100 countries through 5 Regional Hubs and more than 70 Country Networks and expansion territories, the UN Global Compact is the world’s largest corporate sustainability initiative.

Nelnet Business Services Acquires Passtab Safety and Compliance Platform

By
Advertorial Desk
-

LINCOLN, Neb., May 1, 2026 /PRNewswire/ — Nelnet Business Services, a division of Nelnet, Inc. (NYSE: NNI), announced it has acquired Australia‑based Invision Digital Pty Ltd, the owner of the Passtab, Resitab, and Entrytab brands. Passtab, a leading school visitor, contractor, and compliance management platform, and the additional brands will operate within the Nelnet International business line, expanding Nelnet’s global education technology offerings.

The acquisition further strengthens Nelnet International’s ability to serve school communities with solutions that enhance safety, streamline front‑office operations, and support increasingly complex compliance requirements. Passtab is used by thousands of schools across Australia, New Zealand, and the United Kingdom and is widely recognized for its configurable, cloud‑based approach to visitor management and emergency readiness.

“Passtab is a highly respected brand in the education sector, with strong customer relationships and deep domain expertise,” said David Heffernan, managing director of Nelnet International. “The team’s experience and commitment to schools will be a real asset as Passtab becomes part of the broader offerings available within the Nelnet International portfolio of businesses.”

Heffernan said the acquisition aligns with Nelnet’s long‑term investment strategy.

“This acquisition reflects our ongoing commitment to investing in high‑quality education technology that adds value to the core platforms used by our customers across the world,” he said.

Laura Hunt, general manager for Passtab, said, “Joining Nelnet International is a natural evolution for Passtab. Their commitment to a best-in-class Student Information System (SIS) ecosystem provides the ideal environment for us to mature and scale. We look forward to leveraging this broader infrastructure to strengthen our services and make an even bigger difference for schools and other organizations.”

In addition to being a natural business complement, Nelnet International also noted the alignment with its mission.

“What stood out to us about Passtab wasn’t just the strength of the products, but the people behind them,” said Wendy Demarte, Nelnet International director. “They’ve built a capable and deeply committed team with a thorough understanding of K-12 schools.”

She added that the acquisition creates new opportunities for schools globally.

“We’re genuinely excited about what this means for schools,” Demarte said. “Bringing Passtab into Nelnet International gives us the opportunity to better support safer, more efficient and more confident day‑to‑day operations for school communities.”

About Invision Digital Pty Ltd

Invision Digital Pty Ltd is the owner of the Passtab, Resitab, and Entrytab brands. Passtab is a leading school visitor, contractor and compliance management platform that helps schools strengthen safety, streamline front‑office operations and meet increasingly complex regulatory requirements. Used by thousands of schools across Australia, New Zealand, and the UK, Passtab provides a modern, cloud‑based solution for visitor sign‑in, contractor and volunteer compliance, emergency management and first‑aid reporting. Its highly configurable platform integrates with major student information systems, enabling schools to manage safety, compliance and administration through a single, intuitive system.

About Nelnet Business Services

Nelnet Business Services (NBS) is a division of Nelnet, Inc. (NYSE: NNI), which provides payment technology and community management solutions for K-12 schools, higher education institutions, and businesses in the U.S. and internationally. NBS serves more than 1,200 higher education institutions and nearly 12,000 K-12 schools worldwide.

CNFinance Files Annual Report on Form 20-F for Fiscal Year 2025

By
Advertorial Desk
-

GUANGZHOU, China, May 1, 2026 /PRNewswire/ — CNFinance Holdings Limited (NYSE: CNF) (“CNFinance” or the “Company”), a leading home equity loan service provider in China, today announced that it filed its annual report on Form 20-F for the fiscal year ended December 31, 2025 with the U.S. Securities and Exchange Commission (“SEC”) on April 30, 2026.

The annual report can be accessed on the Company’s investor relations website at http://ir.cashchina.cn as well as the SEC’s website at http://www.sec.gov. 

The Company will provide a hard copy of its annual report, free of charge, to its shareholders and ADS holders upon request. Requests should be directed to the Company’s IR Department at ir@cashchina.cn. 

About CNFinance Holdings Limited

CNFinance Holdings Limited (NYSE: CNF) (“CNFinance” or the “Company”) is a leading home equity loan service provider in China. CNFinance, through its operating subsidiaries in China, conducts business by connecting demands and supplies through collaborating with sales partners and trust companies under the trust lending model, and sales partners, local channel partners and commercial banks under the commercial bank partnership model. Sales partners and local channel partners are responsible for recommending micro- and small-enterprise (“MSE”) owners with financing needs to the Company and the Company introduces eligible borrowers to licensed financial institutions with sufficient funding sources including trust companies and commercial banks who will then conduct their own risk assessments and make credit decisions. The Company’s primary target borrower segment is MSE owners who own real properties in Tier 1 and Tier 2 cities and other major cities in China. The Company’s risk mitigation mechanism is embedded in the design of its loan products, supported by an integrated online and offline process focusing on risks of both borrowers and collateral and further enhanced by effective post-loan management procedures.

CNFinance Files Annual Report on Form 20-F for Fiscal Year 2025

By
Advertorial Desk
-

GUANGZHOU, China, May 1, 2026 /PRNewswire/ — CNFinance Holdings Limited (NYSE: CNF) (“CNFinance” or the “Company”), a leading home equity loan service provider in China, today announced that it filed its annual report on Form 20-F for the fiscal year ended December 31, 2025 with the U.S. Securities and Exchange Commission (“SEC”) on April 30, 2026.

The annual report can be accessed on the Company’s investor relations website at http://ir.cashchina.cn as well as the SEC’s website at http://www.sec.gov. 

The Company will provide a hard copy of its annual report, free of charge, to its shareholders and ADS holders upon request. Requests should be directed to the Company’s IR Department at ir@cashchina.cn. 

About CNFinance Holdings Limited

CNFinance Holdings Limited (NYSE: CNF) (“CNFinance” or the “Company”) is a leading home equity loan service provider in China. CNFinance, through its operating subsidiaries in China, conducts business by connecting demands and supplies through collaborating with sales partners and trust companies under the trust lending model, and sales partners, local channel partners and commercial banks under the commercial bank partnership model. Sales partners and local channel partners are responsible for recommending micro- and small-enterprise (“MSE”) owners with financing needs to the Company and the Company introduces eligible borrowers to licensed financial institutions with sufficient funding sources including trust companies and commercial banks who will then conduct their own risk assessments and make credit decisions. The Company’s primary target borrower segment is MSE owners who own real properties in Tier 1 and Tier 2 cities and other major cities in China. The Company’s risk mitigation mechanism is embedded in the design of its loan products, supported by an integrated online and offline process focusing on risks of both borrowers and collateral and further enhanced by effective post-loan management procedures.

Delixy Holdings Limited Reports Fiscal Year 2025 Financial Results

By
Advertorial Desk
-

SINGAPORE, May 1, 2026 /PRNewswire/ — Delixy Holdings Limited (Nasdaq: DLXY) (the “Company” or “Delixy”), a Singapore-based company engaged in the trading of oil related products, today announced its financial results for the fiscal year ended December 31, 2025.

Fiscal Year 2025 Financial Summary

  • Revenue was $307.7 million for fiscal year 2025, compared to $314.9 million for fiscal year 2024.
  • Gross profit was $2.5 million for fiscal year 2025, compared to $4.3 million for fiscal year 2024.
  • Net loss was $4.5 million for fiscal year 2025, compared to net income of $1.0 million for fiscal year 2024.
  • Basic and diluted loss per share was $0.29 for fiscal year 2025, compared to basic and diluted income per share of $0.07 for fiscal year 2024.  

Mr. Dongjian Xie, Executive Chairman and Chief Executive Officer of Delixy, commented, “In fiscal year 2025, despite a softer pricing environment in the global oil market that resulted in a slight decline in revenue, Delixy delivered strengthened operational performance, with total trading volume growing by 13.9% to 4,373 kBBLs (where 1 kBBL is equal to 1,000 barrels of oil) in fiscal year 2025. This growth in cargo volume reflects the resilience of our trading capabilities and the continued trust of our customers and counterparties.”

Mr. Xie continued, “At the operating business level, Delixy Energy Pte Ltd, our core oil trading subsidiary, recorded a net profit of approximately $0.9 million for fiscal year 2025, demonstrating the underlying health and profitability of our trading operations. The consolidated results were impacted by $4.9 million in consulting and advisory fees incurred at the holding company level, focused on expanding our product portfolio, strengthening our market positioning, and executing strategic business cooperations in alignment with our use of proceeds. These expenses were largely front-loaded as part of our growth initiatives following our transition to a public company, and therefore are not indicative of our ongoing operating performance or cost structure.”

“Looking ahead, we are actively advancing our product diversification strategy to broaden our trading portfolio beyond crude oil and oil-based products. In particular, we are making steady progress toward entering the liquefied natural gas (“LNG”) and liquefied petroleum gas (“LPG”) market. We believe that the expansion of our product offering will enhance our ability to capture opportunities in the evolving global energy landscape and contribute to more diversified and resilient revenue streams. Meanwhile, we remain focused on preserving supply chain resilience and delivering our products and services to customers in a consistent and dependable manner. As a company committed to prudent growth and operational discipline, we believe we are well positioned to strengthen our market position and deliver sustainable long-term value for our shareholders.”

Fiscal Year 2025 Financial Results

Revenues

Revenues were $307.7 million for fiscal year 2025, a decrease from $314.9 million for fiscal year 2024. The decrease was primarily driven by lower market prices for fuel oil compared to fiscal year 2024. This price decline led to a contraction in fuel oil trading volumes.

  • Revenue from sales of crude oil was $182.6 million for fiscal year 2025, an increase from $169.5 million for fiscal year 2024. The increase was due to higher volumes of crude oil sold in fiscal year 2025 compared to fiscal year 2024, even though the average crude oil price was lower in line with world crude oil price trends.
  • Revenue from sales of oil-based products was $125.1 million for fiscal year 2025, a decrease from $145.4 million for fiscal year 2024. The decrease was primarily attributable to the lower average selling prices realized in fiscal year 2025 relative to fiscal year 2024, rather than a reduction in the Company’s core trading activity.

Cost of Revenue

Cost of revenue was $305.2 million for fiscal year 2025, a decrease from $310.6 million for fiscal year 2024. The decrease was primarily driven by lower average procurement prices for fuel oil and Methyl tert-butyl ether (“MTBE”) during the period. While trading volumes for these products increased, the impact of lower unit costs resulted in an overall reduction in the cost of revenue.

Gross Profit and Gross Profit Margin

Gross profit was $2.5 million for fiscal year 2025, a decrease from $4.3 million for fiscal year 2024, as a result of the lower revenues generated during fiscal year 2025 compared to fiscal year 2024.

Gross profit margin was 0.8% for fiscal year 2025, a decrease from 1.4% for fiscal year 2024.

General and Administrative Expenses

General and administrative expenses were $7.1 million for fiscal year 2025, an increase from $3.6 million for fiscal year 2024. This increase was primarily attributable to an increase of $4.9 million in consulting and advisory fees, a new expense category in the fiscal year 2025. These fees were focused on expanding the Company’s product portfolio, strengthening its market positioning, and executing strategic business cooperations in alignment with its use of proceeds. These costs were partially offset by a significant reduction in freight and handling charges, which decreased to $0.1 million from $2.1 million in fiscal year 2024.

Net Income (Loss)

Net loss was $4.5 million for fiscal year 2025, compared to a net income of $1.0 million for fiscal year 2024.

Basic and Diluted Loss (Income) per Share

Basic and diluted loss per share was $0.29 for fiscal year 2025, compared to basic and diluted income per share of $0.07 for fiscal year 2024.  

Financial Condition

As of December 31, 2025, the Company had cash and cash equivalents of $1.8 million, compared to $3.3 million as of December 31, 2024.

Net cash used in operating activities was $5.2 million for fiscal year 2025, compared to net cash provided by operating activities of $0.6 million for fiscal year 2024.

Net cash provided by investing activities was $0.2 million for fiscal year 2025, compared to $0.6 million for fiscal year 2024.

Net cash provided by financing activities was $3.5 million for fiscal year 2025, compared to net cash used in financing activities of $6.1 million for fiscal year 2024.

About Delixy Holdings Limited

Delixy Holdings Limited is a Singapore-based company principally engaged in the trading of oil-related products, including (i) crude oil and (ii) oil-based products such as fuel oil, motor gasoline, additives, gas oil, base oil, asphalt, naphtha (heavy gasoline) and petrochemicals. Operating across multiple countries in Southeast Asia, East Asia, and Middle East, Delixy has established a strong presence in the region’s oil trading markets. While Delixy maintains a diversified portfolio of oil products, crude oil trading represents a core aspect of its business. The Company leverages its strong existing relationships with customers and suppliers as well as deep industry expertise to provide value-added services, including tailored recommendations on optimal trading strategies and shipping and logistical support where required. In addition, the Company’s financing capabilities allow it to extend credit terms to customers while satisfying suppliers’ immediate payment terms. For more information, please visit the Company’s website: https://ir.delixy.com.

Forward-Looking Statements

Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy, and financial needs. Investors can find many (but not all) of these statements by the use of words such as “believe”, “plan”, “expect”, “intend”, “should”, “seek”, “estimate”, “will”, “aim” and “anticipate” or other similar expressions in this prospectus. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Registration Statement and other filings with the U.S. Securities and Exchange Commission (the “SEC”).

For media inquiries, please contact:

Delixy Holdings Limited
Investor Relations Department
Email: ir@delixy.com

Ascent Investor Relations LLC
Tina Xiao
Phone: +1-646-932-7242
Email: investors@ascent-ir.com

 

DELIXY HOLDINGS LIMITED AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(Amount in USD thousands, except for Share and per Share data, or otherwise noted)

As of December 31,

Note

2024

2025

US$’000

US$’000

ASSETS

Current assets:

 Cash and cash equivalents

3,343

1,793

Accounts receivable, net

4

17,519

22,399

Deposits, prepayments and other receivables

5

575

2

Amount due from shareholder

6

152

95

Derivative financial instruments

7

685

582

Total current assets

22,274

24,871

Non-current assets:

Property and equipment, net

8

**

1

Right-of-use assets, net

9

62

16

Deferred offering costs

10

1,321

—

Total non-current assets

1,383

17

TOTAL ASSETS

23,657

24,888

LIABILITIES AND SHAREHOLDERS’ EQUITY

Current liabilities:

Accounts payable

17,067

20,214

Accrued liabilities

11

50

237

Other payables

—

180

Lease liabilities

13

42

16

Loan from shareholder

12

—

4,000

Income tax payable

18

127

136

Total current liabilities

17,286

24,783

Non-current liabilities:

Lease liabilities

13

18

—

Loan from shareholder

12

5,000

—

Total non-current liabilities

5,018

—

TOTAL LIABILITIES

22,304

24,783

Commitments and contingencies

21

—

—

Shareholders’ equity:

Ordinary share, par value US$0.000005, 100,000,000,000 shares
   authorized, 16,350,000 shares issued*

14

**

**

Additional paid-up capital

695

3,910

Retained earnings/(accumulated deficit)

612

(3,851)

Other reserve

15

46

46

Total shareholders’ equity

1,353

105

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY

23,657

24,888

*

Retrospectively restated for the effect of 1:200 forward stock split of the Company’s Ordinary Shares and the
shares surrendered by its existing shareholders.

**

— Denotes amount less than US$1,000.

 

 

DELIXY HOLDINGS LIMITED AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME/(LOSS)
(Amount in USD thousands, except for Share and per Share data, or otherwise noted)

Financial Years ended
December 31,

Note

2023

2024

2025

US$’000

US$’000

US$’000

Revenues

3,16

289,166

314,916

307,747

Cost of revenue

(285,037)

(310,618)

(305,203)

Gross profit

4,129

4,298

2,544

General and administrative expenses

(3,007)

(3,592)

(7,077)

Profit/(loss) from operations

1,122

706

(4,533)

Other income:

17

Foreign exchange gain

3

5

—

Interest income

250

183

63

Gain on disposal of property

—

177

—

Shipping charges reimbursed

—

50

141

Other income

2

5

2

Total other income

255

420

206

Income/(loss) before income tax

1,377

1,126

(4,327)

Income tax expense

18

(225)

(98)

(136)

NET INCOME/(LOSS)

1,152

1,028

(4,463)

TOTAL COMPREHENSIVE INCOME/(LOSS)

1,152

1,028

(4,463)

Net income/(loss) per Share

Basic and diluted*

0.08

0.07

(0.29)

Weighted average number of ordinary shares outstanding
   Basic and diluted*

15,000,000

15,000,000

15,647,260

 

*

Retrospectively restated for the effect of 1:200 forward stock split of the Company’s Ordinary Shares and the
shares surrendered by its existing shareholders.

 

 

DELIXY HOLDINGS LIMITED AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOW
(Amount in USD thousands, except for Share and per Share data, or otherwise noted)

Financial Years ended
December 31,

2023

2024

2025

US$’000

US$’000

US$’000

Cash flows from operating activities:

Net income/(loss) after tax

1,152

1,028

(4,463)

Depreciation of property and equipment

24

11

**

Amortization of right-of-use assets

43

57

44

Gain on disposal of property

—

(177)

—

Interest expense

23

178

7

Fair value gain on derivative financial instruments

(21)

—

—

Change in working capital:

Accounts receivable, net

2,716

(16,806)

(4,880)

Deposits, prepayments and other receivables

24

(540)

573

Accounts payable

—

17,067

3,147

Other payables

—

—

180

Accrued liabilities

(44)

(25)

187

Lease liabilities

(47)

(62)

(44)

Income tax payable

200

(119)

9

Interest paid

(20)

—

(5)

Net cash provided by/(used in) operating activities

4,050

612

(5,245)

Cash flows from investing activities:

Derivative financial instruments

(107)

(78)

103

Proceeds from disposal of property

—

957

—

Amount due from shareholder

(81)

(327)

57

Net cash (used in) /provided by investing activities

(188)

552

160

Cash flows from financing activities:

Amount due to related party

(175)

—

—

Purchase of property and equipment

—

—

(1)

Repayment of loan

—

—

(1,000)

Payment of offering costs

—

(1,321)

—

Proceed from issuance of stock

—

—

4,536

Dividend paid

(1,500)

(4,745)

—

Net cash (used in)/ provided by financing activities

(1,675)

(6,066)

3,535

Net change in cash and cash equivalents

2,187

(4,902)

(1,550)

BEGINNING OF FINANCIAL YEAR

6,058

8,245

3,343

END OF FINANCIAL YEAR

8,245

3,343

1,793

Supplemental Cash Flow Information:

Cash paid for income taxes

(25)

(219)

(127)

Cash paid for interest

(23)

(3)

(7)

Supplemental schedule of noncash financing activities

Loan from shareholder

—

5,000

—

Dividend payable

—

(5,000)

—

  ** — Denotes amount less than US$1,000.

 

Delixy Holdings Limited Reports Fiscal Year 2025 Financial Results

By
Advertorial Desk
-

SINGAPORE, May 1, 2026 /PRNewswire/ — Delixy Holdings Limited (Nasdaq: DLXY) (the “Company” or “Delixy”), a Singapore-based company engaged in the trading of oil related products, today announced its financial results for the fiscal year ended December 31, 2025.

Fiscal Year 2025 Financial Summary

  • Revenue was $307.7 million for fiscal year 2025, compared to $314.9 million for fiscal year 2024.
  • Gross profit was $2.5 million for fiscal year 2025, compared to $4.3 million for fiscal year 2024.
  • Net loss was $4.5 million for fiscal year 2025, compared to net income of $1.0 million for fiscal year 2024.
  • Basic and diluted loss per share was $0.29 for fiscal year 2025, compared to basic and diluted income per share of $0.07 for fiscal year 2024.  

Mr. Dongjian Xie, Executive Chairman and Chief Executive Officer of Delixy, commented, “In fiscal year 2025, despite a softer pricing environment in the global oil market that resulted in a slight decline in revenue, Delixy delivered strengthened operational performance, with total trading volume growing by 13.9% to 4,373 kBBLs (where 1 kBBL is equal to 1,000 barrels of oil) in fiscal year 2025. This growth in cargo volume reflects the resilience of our trading capabilities and the continued trust of our customers and counterparties.”

Mr. Xie continued, “At the operating business level, Delixy Energy Pte Ltd, our core oil trading subsidiary, recorded a net profit of approximately $0.9 million for fiscal year 2025, demonstrating the underlying health and profitability of our trading operations. The consolidated results were impacted by $4.9 million in consulting and advisory fees incurred at the holding company level, focused on expanding our product portfolio, strengthening our market positioning, and executing strategic business cooperations in alignment with our use of proceeds. These expenses were largely front-loaded as part of our growth initiatives following our transition to a public company, and therefore are not indicative of our ongoing operating performance or cost structure.”

“Looking ahead, we are actively advancing our product diversification strategy to broaden our trading portfolio beyond crude oil and oil-based products. In particular, we are making steady progress toward entering the liquefied natural gas (“LNG”) and liquefied petroleum gas (“LPG”) market. We believe that the expansion of our product offering will enhance our ability to capture opportunities in the evolving global energy landscape and contribute to more diversified and resilient revenue streams. Meanwhile, we remain focused on preserving supply chain resilience and delivering our products and services to customers in a consistent and dependable manner. As a company committed to prudent growth and operational discipline, we believe we are well positioned to strengthen our market position and deliver sustainable long-term value for our shareholders.”

Fiscal Year 2025 Financial Results

Revenues

Revenues were $307.7 million for fiscal year 2025, a decrease from $314.9 million for fiscal year 2024. The decrease was primarily driven by lower market prices for fuel oil compared to fiscal year 2024. This price decline led to a contraction in fuel oil trading volumes.

  • Revenue from sales of crude oil was $182.6 million for fiscal year 2025, an increase from $169.5 million for fiscal year 2024. The increase was due to higher volumes of crude oil sold in fiscal year 2025 compared to fiscal year 2024, even though the average crude oil price was lower in line with world crude oil price trends.
  • Revenue from sales of oil-based products was $125.1 million for fiscal year 2025, a decrease from $145.4 million for fiscal year 2024. The decrease was primarily attributable to the lower average selling prices realized in fiscal year 2025 relative to fiscal year 2024, rather than a reduction in the Company’s core trading activity.

Cost of Revenue

Cost of revenue was $305.2 million for fiscal year 2025, a decrease from $310.6 million for fiscal year 2024. The decrease was primarily driven by lower average procurement prices for fuel oil and Methyl tert-butyl ether (“MTBE”) during the period. While trading volumes for these products increased, the impact of lower unit costs resulted in an overall reduction in the cost of revenue.

Gross Profit and Gross Profit Margin

Gross profit was $2.5 million for fiscal year 2025, a decrease from $4.3 million for fiscal year 2024, as a result of the lower revenues generated during fiscal year 2025 compared to fiscal year 2024.

Gross profit margin was 0.8% for fiscal year 2025, a decrease from 1.4% for fiscal year 2024.

General and Administrative Expenses

General and administrative expenses were $7.1 million for fiscal year 2025, an increase from $3.6 million for fiscal year 2024. This increase was primarily attributable to an increase of $4.9 million in consulting and advisory fees, a new expense category in the fiscal year 2025. These fees were focused on expanding the Company’s product portfolio, strengthening its market positioning, and executing strategic business cooperations in alignment with its use of proceeds. These costs were partially offset by a significant reduction in freight and handling charges, which decreased to $0.1 million from $2.1 million in fiscal year 2024.

Net Income (Loss)

Net loss was $4.5 million for fiscal year 2025, compared to a net income of $1.0 million for fiscal year 2024.

Basic and Diluted Loss (Income) per Share

Basic and diluted loss per share was $0.29 for fiscal year 2025, compared to basic and diluted income per share of $0.07 for fiscal year 2024.  

Financial Condition

As of December 31, 2025, the Company had cash and cash equivalents of $1.8 million, compared to $3.3 million as of December 31, 2024.

Net cash used in operating activities was $5.2 million for fiscal year 2025, compared to net cash provided by operating activities of $0.6 million for fiscal year 2024.

Net cash provided by investing activities was $0.2 million for fiscal year 2025, compared to $0.6 million for fiscal year 2024.

Net cash provided by financing activities was $3.5 million for fiscal year 2025, compared to net cash used in financing activities of $6.1 million for fiscal year 2024.

About Delixy Holdings Limited

Delixy Holdings Limited is a Singapore-based company principally engaged in the trading of oil-related products, including (i) crude oil and (ii) oil-based products such as fuel oil, motor gasoline, additives, gas oil, base oil, asphalt, naphtha (heavy gasoline) and petrochemicals. Operating across multiple countries in Southeast Asia, East Asia, and Middle East, Delixy has established a strong presence in the region’s oil trading markets. While Delixy maintains a diversified portfolio of oil products, crude oil trading represents a core aspect of its business. The Company leverages its strong existing relationships with customers and suppliers as well as deep industry expertise to provide value-added services, including tailored recommendations on optimal trading strategies and shipping and logistical support where required. In addition, the Company’s financing capabilities allow it to extend credit terms to customers while satisfying suppliers’ immediate payment terms. For more information, please visit the Company’s website: https://ir.delixy.com.

Forward-Looking Statements

Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy, and financial needs. Investors can find many (but not all) of these statements by the use of words such as “believe”, “plan”, “expect”, “intend”, “should”, “seek”, “estimate”, “will”, “aim” and “anticipate” or other similar expressions in this prospectus. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Registration Statement and other filings with the U.S. Securities and Exchange Commission (the “SEC”).

For media inquiries, please contact:

Delixy Holdings Limited
Investor Relations Department
Email: ir@delixy.com

Ascent Investor Relations LLC
Tina Xiao
Phone: +1-646-932-7242
Email: investors@ascent-ir.com

 

DELIXY HOLDINGS LIMITED AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(Amount in USD thousands, except for Share and per Share data, or otherwise noted)

As of December 31,

Note

2024

2025

US$’000

US$’000

ASSETS

Current assets:

 Cash and cash equivalents

3,343

1,793

Accounts receivable, net

4

17,519

22,399

Deposits, prepayments and other receivables

5

575

2

Amount due from shareholder

6

152

95

Derivative financial instruments

7

685

582

Total current assets

22,274

24,871

Non-current assets:

Property and equipment, net

8

**

1

Right-of-use assets, net

9

62

16

Deferred offering costs

10

1,321

—

Total non-current assets

1,383

17

TOTAL ASSETS

23,657

24,888

LIABILITIES AND SHAREHOLDERS’ EQUITY

Current liabilities:

Accounts payable

17,067

20,214

Accrued liabilities

11

50

237

Other payables

—

180

Lease liabilities

13

42

16

Loan from shareholder

12

—

4,000

Income tax payable

18

127

136

Total current liabilities

17,286

24,783

Non-current liabilities:

Lease liabilities

13

18

—

Loan from shareholder

12

5,000

—

Total non-current liabilities

5,018

—

TOTAL LIABILITIES

22,304

24,783

Commitments and contingencies

21

—

—

Shareholders’ equity:

Ordinary share, par value US$0.000005, 100,000,000,000 shares
   authorized, 16,350,000 shares issued*

14

**

**

Additional paid-up capital

695

3,910

Retained earnings/(accumulated deficit)

612

(3,851)

Other reserve

15

46

46

Total shareholders’ equity

1,353

105

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY

23,657

24,888

*

Retrospectively restated for the effect of 1:200 forward stock split of the Company’s Ordinary Shares and the
shares surrendered by its existing shareholders.

**

— Denotes amount less than US$1,000.

 

 

DELIXY HOLDINGS LIMITED AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME/(LOSS)
(Amount in USD thousands, except for Share and per Share data, or otherwise noted)

Financial Years ended
December 31,

Note

2023

2024

2025

US$’000

US$’000

US$’000

Revenues

3,16

289,166

314,916

307,747

Cost of revenue

(285,037)

(310,618)

(305,203)

Gross profit

4,129

4,298

2,544

General and administrative expenses

(3,007)

(3,592)

(7,077)

Profit/(loss) from operations

1,122

706

(4,533)

Other income:

17

Foreign exchange gain

3

5

—

Interest income

250

183

63

Gain on disposal of property

—

177

—

Shipping charges reimbursed

—

50

141

Other income

2

5

2

Total other income

255

420

206

Income/(loss) before income tax

1,377

1,126

(4,327)

Income tax expense

18

(225)

(98)

(136)

NET INCOME/(LOSS)

1,152

1,028

(4,463)

TOTAL COMPREHENSIVE INCOME/(LOSS)

1,152

1,028

(4,463)

Net income/(loss) per Share

Basic and diluted*

0.08

0.07

(0.29)

Weighted average number of ordinary shares outstanding
   Basic and diluted*

15,000,000

15,000,000

15,647,260

 

*

Retrospectively restated for the effect of 1:200 forward stock split of the Company’s Ordinary Shares and the
shares surrendered by its existing shareholders.

 

 

DELIXY HOLDINGS LIMITED AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOW
(Amount in USD thousands, except for Share and per Share data, or otherwise noted)

Financial Years ended
December 31,

2023

2024

2025

US$’000

US$’000

US$’000

Cash flows from operating activities:

Net income/(loss) after tax

1,152

1,028

(4,463)

Depreciation of property and equipment

24

11

**

Amortization of right-of-use assets

43

57

44

Gain on disposal of property

—

(177)

—

Interest expense

23

178

7

Fair value gain on derivative financial instruments

(21)

—

—

Change in working capital:

Accounts receivable, net

2,716

(16,806)

(4,880)

Deposits, prepayments and other receivables

24

(540)

573

Accounts payable

—

17,067

3,147

Other payables

—

—

180

Accrued liabilities

(44)

(25)

187

Lease liabilities

(47)

(62)

(44)

Income tax payable

200

(119)

9

Interest paid

(20)

—

(5)

Net cash provided by/(used in) operating activities

4,050

612

(5,245)

Cash flows from investing activities:

Derivative financial instruments

(107)

(78)

103

Proceeds from disposal of property

—

957

—

Amount due from shareholder

(81)

(327)

57

Net cash (used in) /provided by investing activities

(188)

552

160

Cash flows from financing activities:

Amount due to related party

(175)

—

—

Purchase of property and equipment

—

—

(1)

Repayment of loan

—

—

(1,000)

Payment of offering costs

—

(1,321)

—

Proceed from issuance of stock

—

—

4,536

Dividend paid

(1,500)

(4,745)

—

Net cash (used in)/ provided by financing activities

(1,675)

(6,066)

3,535

Net change in cash and cash equivalents

2,187

(4,902)

(1,550)

BEGINNING OF FINANCIAL YEAR

6,058

8,245

3,343

END OF FINANCIAL YEAR

8,245

3,343

1,793

Supplemental Cash Flow Information:

Cash paid for income taxes

(25)

(219)

(127)

Cash paid for interest

(23)

(3)

(7)

Supplemental schedule of noncash financing activities

Loan from shareholder

—

5,000

—

Dividend payable

—

(5,000)

—

  ** — Denotes amount less than US$1,000.

 

Baiya International Group Inc. Announces Fiscal Year 2025 Financial Results

By
Advertorial Desk
-

SHENZHEN, China, May 1, 2026 /PRNewswire/ — Baiya International Group Inc. (“Baiya” or the “Company”) (Nasdaq: BIYA), a human resource (“HR”) technology company utilizing its cloud-based internet platform to provide one-stop crowdsourcing recruitment and SaaS-enabled HR solutions, today announced its financial results for the fiscal year ended December 31, 2025.

Ms. Siyu Yang, Chief Executive Officer of Baiya, commented, “We are pleased to report strong revenue growth for fiscal year 2025, with net revenues increasing by 28.6% to $16.5 million. This performance was driven by continued expansion in our core project outsourcing services, which increased by 9.4%, and exceptional growth in entrusted recruitment services, which increased by 2,515.2%. We also benefited from contributions from new customers and newly introduced services, while further strengthening our presence in the logistics and express delivery sectors. Gross profit grew by 35.1% to $1.9 million, reflecting increased contributions across our service lines, while we increased spending on business expansion and corporate-related initiatives.”

Ms. Yang continued, “As we move forward, we intend to continue to refine our service capabilities and deepen our presence in high-growth sectors such as logistics and express delivery, while advancing our platform-driven approach to better capture opportunities in the evolving employment landscape. In parallel, we are expanding our strategic horizon through new initiatives which reflect our efforts to build a more dynamic and structured capital framework. We believe these initiatives, together with our growing client base and disciplined execution, will position us well to drive sustainable growth and deliver long-term value to our shareholders.”

Fiscal Year 2025 Financial Summary

  • Net revenues were $16.5 million in fiscal year 2025, an increase of 28.6% from $12.8 million in fiscal year 2024.
  • Gross profit was $1.9 million in fiscal year 2025, an increase of 35.1% from $1.4 million in fiscal year 2024.
  • Net loss attributable to Baiya was $9.5 million in fiscal year 2025, compared to $8,750 in fiscal year 2024.
  • Basic and diluted net loss per common share were $5.04 in fiscal year 2025, compared to $0.02 in fiscal year 2024.

Fiscal Year 2025 Financial Results

Net Revenues

Net revenues were $16.5 million in fiscal year 2025, an increase of 28.6% from $12.8 million in fiscal year 2024.

  • Revenue from entrusted recruitment service was $1.1 million in fiscal year 2025, an increase of 2,515.2% from $0.04 million in fiscal year 2024. The increase was primarily driven by growth in entrusted recruitment service revenue from new customers, including a $0.3 million contribution from Dongguan Santong Human Resources Management Co., Ltd., $0.2 million from Dongguan Great Wall Development Technology Co., Ltd., $0.2 million from Gansu Detian Human Resources Co., Ltd., $0.2 million from Suzhou Tengyu Outsourcing Services Co., Ltd. and $0.2 million from Dongguan Zhaofeng Human Resources Co., Ltd.
  • Revenue from project outsourcing service was $14.0 million in fiscal year 2025, an increase of 9.4% from $12.8 million in fiscal year 2024. The increase was primarily due to the outsourcing revenues from the Company’s major customers, $0.7 million increased from Songjia Precision Technology (Dongguan) Co., Ltd. $0.6 million increased from China Postal Express & Logistics Co., Ltd — Sihui City Branch, $0.2 million increase from Guangdong Dingsheng Human Resources Co., Ltd and $1.8 million increase from Zhaoqing Runzhongyi Logistics Services Co., Ltd., which was partly offset by $1.6 million decreased from Zhongshan Branch of China Postal Group Limited and $0.4 million decrease from Dongguan Jiefeng Information Technology Co., Ltd.
  • Revenue from research and development technical services was $1.4 million in fiscal year 2025. The Company did not generate any revenue from research and development technical services in fiscal year 2024.
  • Revenue from other services was $0.1 million in fiscal year 2025, an increase of 1,706.2% from $3,050 in fiscal year 2024. During fiscal year 2025, the revenue generated from other services mainly represents consulting services revenue of $55,089.

Cost of Revenues
Total cost of revenue was $14.6 million in fiscal year 2025, an increase of 27.8% from $11.4 million in fiscal year 2024.

Gross Profit
Gross profit was $1.9 million in fiscal year 2025, an increase of 35.1% from $1.4 million in fiscal year 2024. The increase was mainly due to the $0.3 million increase in gross profit from project outsourcing service, $69,693 increase in gross profit from entrusted recruitment service, $64,301 increase in gross profit from research and development technical services and $26,860 increase in gross profit from other services.

Operating Expenses
Total operating expenses were $11.5 million in fiscal year 2025, an increase of 754.6% from $1.3 million in fiscal year 2024. The change was mainly due to an increase of $9.4 million in general and administrative expenses and an increase of $0.8 million in selling expenses, which were partly offset by a decrease of $11,088 in research and development expenses.

  • Selling expenses were $1.0 million in fiscal year 2025, an increase of 364.2% from $0.2 million in fiscal year 2024. The increase was primarily due to the $0.7 million increase in advertising and promotion expense and $0.1 million increase in meal and entertainment expense.
  • General and administrative expenses were $10.3 million in fiscal year 2025, an increase of 1,051.9% from $0.9 million in fiscal year 2024. The increase in general and administrative expenses were mainly due to increased stock compensation expenses by $4.3 million, increased consulting and professional service fees by $4.7 million, increased payroll expense by $0.3 million and increased other expenses by $0.1 million.
  • Research and development expenses were $0.23 million in fiscal year 2025, a decrease of 4.7% from $0.24 million in fiscal year 2024.

Net Loss Attributable to Baiya
Net loss attributable to Baiya was $9.5 million in fiscal year 2025, compared to $8,750 in fiscal year 2024. The increase in net loss in 2025 mainly resulted from increased operating expenses by $10.1 million, which was partly offset by increased other income by $0.1 million and increased gross profit by $0.5 million in fiscal year 2025.

Basic and Diluted Net Loss per Common Share
Basic and diluted net loss per common share were $5.04 in fiscal year 2025, compared to $0.02 in fiscal year 2024.

Financial Condition
As of December 31, 2025, the Company had cash of $0.7 million, compared to $1.7 million as of December 31, 2024.

Net cash used in operating activities in fiscal year 2025 was $7.4 million, compared to net cash provided by operating activities of $1.6 million in fiscal year 2024.

Net cash used in investing activities in fiscal year 2025 was $17.2 million, primarily reflected short-term loans extended to third parties in December 2025 which were non-interest-bearing for the first six months of their term and are subject to supplemental agreements and repayment plans entered into in April 2026, as further described in the Company’s Annual Report on Form 20-F.  The Company did not generate any cash flows in investing activities in fiscal year 2024.

Net cash provided by financing activities in fiscal year 2025 was $25.0 million, compared to $0.08 million in fiscal year 2024.

About Baiya International Group Inc.

Baiya has evolved from a job matching service provider into a cloud-based internet platform to provide one-stop crowdsourcing recruitment and SaaS-enabled HR solutions on the Gongwuyuan Platform to supplement its offline job matching services and started to position itself as a SaaS-enabled HR technology company by introducing its Gongwuyuan Platform in the flexible employment marketplace. Baiya has been and will continue to strategically develop and improve the Gongwuyuan Platform with product features that work together with its traditional offline service model to improve the job matching and HR related services in the flexible employment marketplace. For more information, please visit the Company’s website: https://www.baiyainc.com/investors-overview.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

Certain statements in this press release are “forward-looking statements” as defined under the federal securities laws, including, but not limited to, statements concerning plans, growth initiatives, objectives, goals, strategies, future events or expected performance, and underlying assumptions and other statements that are other than statements of historical facts. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs, including, without limitation, risks related to the Company’s operations in China, its contractual arrangements with its variable interest entity, evolving regulatory developments, liquidity and capital resources, repayment of loan receivables from third parties, remediation of material weaknesses in internal control over financial reporting, and the Company’s ability to execute its business and strategic initiatives. Forward-looking statements can be identified by terms such as “believe”, “plan”, “expect”, “intend”, “should”, “seek”, “estimate”, “will”, “aim” and “anticipate”, or other similar expressions in this press release. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.  The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to carefully review the Company’s annual report on Form 20-F, including the section captioned “Item 3.D. Risk Factors” and the Company’s other filings with the United States Securities and Exchange Commission (“SEC”).

For further information, please contact:

Baiya International Group Inc.
Investor Relations Department
Phone: +86 0769-88785888
Email: info@biyainc.com

Investor Relations Inquiries:

Ascent Investor Relations LLC
Tina Xiao
Phone: +1-646-932-7242
Email: investors@ascent-ir.com

 

BAIYA INTERNATIONAL GROUP INC.

CONSOLIDATED BALANCE SHEETS

(Expressed in U.S. Dollars, except for the number of shares)

As of
December 31,
2025

As of
December 31,
2024

ASSETS

CURRENT ASSETS

Cash

$

688,941

$

1,668,291

Accounts receivable, net

1,669,511

1,648,073

Due from related parties

424,121

40,549

Deferred IPO costs

–

889,160

Prepaid expenses and other current assets

5,915,194

177,325

Loan receivable from third parties, current

17,653,965

–

Total current assets

26,351,732

4,423,398

NON-CURRENT ASSETS

Restricted cash, non-current

1,430,000

–

Property and equipment, net

7,071

1,872

Right-of-use asset, net

42,745

49,356

Loan receivable from third parties, non-current

–

443,787

Other non-current assets

–

33,017

Total noncurrent assets

1,479,816

528,032

TOTAL ASSETS

$

27,831,548

$

4,951,430

LIABILITIES AND STOCKHOLDERS’ EQUITY

CURRENT LIABILITIES

Accounts payable

$

2,002,141

$

1,662,594

Loan payable to third parties

107,250

164,399

Advance from customers

30,975

29,675

Accrued liabilities and other payables

2,261,771

2,057,865

Taxes payable

106,023

146,239

Due to related parties

212,100

170,855

Lease liabilities

36,382

8,422

Bank loan payables, current

–

117,345

Total current liabilities

4,756,642

4,357,394

NON-CURRENT LIABILITIES

Lease liabilities

6,363

43,972

Total non-current liabilities

6,363

43,972

TOTAL LIABILITIES

4,763,005

4,401,366

COMMITMENTS AND CONTINGENCIES

STOCKHOLDER’S EQUITY

Preferred shares, par value $0.0025, 100,000,000 shares authorized, nil shares
     issued and outstanding as of December 31, 2025 and 2024, respectively

–

–

Class A Common shares, par value $0.0025, 1,600,000,000 shares
     authorized, 1,185,835 and 400,051 shares issued and outstanding as
     of December 31, 2025 and 2024, respectively

2,964

1,000

Class B Common shares, par value $0.0001, 100,000,000 shares authorized,
     3,600,000 and nil shares issued and outstanding as of December 31, 2025
     and 2024, respectively

360

–

Additional paid-in capital

33,706,703

1,796,285

Statutory Reserve

458,832

380,901

Accumulated other comprehensive loss

(147,070)

(221,139)

Accumulated deficit

(11,066,628)

(1,456,778)

Total Company shareholders’ equity

22,955,161

500,269

Non-controlling interest

113,382

49,795

Total shareholders’ equity

23,068,543

550,064

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY

$

27,831,548

$

4,951,430

 

 

BAIYA INTERNATIONAL GROUP INC.

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

(Expressed in U.S. Dollars, except for the number of shares)

For the Years Ended December 31,

2025

2024

2023

Net revenues

$

16,477,041

$

12,809,211

$

11,574,877

Cost of revenues

14,576,205

11,401,940

10,772,530

Gross profit

1,900,836

1,407,271

802,347

Operating expenses

Selling expenses

996,439

214,672

127,214

General and administrative expenses

10,253,273

890,089

1,093,703

Research and development expenses

227,062

238,150

300,519

Total operating expenses

11,476,774

1,342,911

1,521,436

(Loss) income from operations

(9,575,938)

64,360

(719,089)

Other income (expenses)

Interest income (expense), net

3,349

(31,510)

(24,030)

Government subsidy income

–

5,823

33,654

Other income (expenses), net

111,615

(3,456)

(321,112)

Other income (expenses), net

114,964

(29,143)

(311,488)

Income (loss) before income tax

(9,460,974)

35,217

(1,030,577)

Less: income tax expense

19,050

28,530

32,239

Net (loss) income

(9,480,024)

6,687

(1,062,816)

Less: net income (loss) attributable to non-controlling interests

51,895

15,437

(45,739)

Net loss attributable to common shareholders of Baiya International
Group Inc.

$

(9,531,919)

$

(8,750)

$

(1,017,077)

Comprehensive income (loss)

Net income (loss)

(9,480,024)

6,687

(1,062,816)

Other comprehensive income (loss)

Foreign currency translation gain (loss)

85,760

(71,274)

(46,538)

Total other comprehensive income (loss)

85,760

(71,274)

(46,538)

Total comprehensive loss

(9,394,264)

(64,587)

(1,109,354)

Less: comprehensive income (loss) attributable to noncontrolling
interest

63,586

11,874

(48,095)

Comprehensive loss attributable to common shareholders of Baiya     
International Group Inc.

$

(9,457,850)

$

(76,461)

$

(1,061,259)

Net loss per common share

Basic and diluted *

$

(5.04)

$

(0.02)

$

(2.66)

Weighted average number of common shares outstanding

Basic and diluted *

1,892,759

400,000

400,000

*     retroactively reflect 1-for-25 reverse stock split effective on December 29, 2025

 

 

BAIYA INTERNATIONAL GROUP INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(Expressed in U.S. Dollars, except for the number of shares)

For the Years Ended December 31,

2025

2024

2023

CASH FLOWS FROM OPERATING ACTIVITIES

Net (loss)/income

$

(9,480,024)

$

6,687

$

(1,062,816)

Adjustments to reconcile net loss to net cash provided by (used in) operating activities:

Depreciation expense

407

443

799

Allowances for credit losses

126,038

(43,859)

121,899

Gain on disposal of subsidiaries

12,453

–

–

Amortization of operating lease right-of-use assets

41,193

11,693

139,592

Changes in deferred income tax

–

–

5,818

Stock compensation expense

6,101,716

–

–

Changes in operating assets and liabilities:

Accounts receivable, net

49,363

1,972,340

(1,331,193)

Advance to suppliers, net

–

–

40,371

Due from related parties

–

894,107

(900,702)

Prepaid expenses and other current assets

(4,622,841)

126,918

(138,659)

Accounts payable

259,478

(1,112,598)

1,117,916

Accrued liabilities and other payables

166,327

(165,046)

175,063

Taxes payable

(45,243)

(105,398)

33,247

Lease liability

(44,278)

(1,530)

(2,448)

Net cash (used in) provided by operating activities

(7,435,411)

1,583,757

(1,801,113)

CASH FLOWS FROM INVESTING ACTIVITIES

Purchase of fixed assets

(5,524)

–

–

Loan to third party

(17,185,430)

–

–

Net cash used in investing activities

(17,190,954)

–

–

CASH FLOWS FROM FINANCING ACTIVITIES

Proceeds from loans – bank

–

55,434

–

Due to related parties

(349,143)

938,382

(416,209)

Repayments to loans – bank

(119,145)

(638,745)

(31,224)

Repayment to third party loan

(62,595)

(278,083)

–

Advance to third party loan

–

–

(60,716)

Net proceeds from issuance of common stock

25,541,955

–

–

Net cash provided by (used in) financing activities

25,011,072

76,988

(508,149)

EFFECT OF EXCHANGE RATE CHANGES ON CASH

65,943

(24,427)

(62,935)

NET INCREASE  (DECREASE) IN CASH AND RESTRICTED
CASH

450,650

1,636,318

(2,372,197)

CASH AND RESTRICTED CASH, BEGINNING OF YEAR

1,668,291

31,973

2,404,170

CASH AND RESTRICTED CASH, END OF YEAR

$

2,118,941

$

1,668,291

$

31,973

$

–

Supplemental disclosure information of cash flow:

Cash paid for income tax

$

–

$

4,543

$

15,090

Cash paid for interest

$

5,907

$

36,724

$

63,042

Supplemental non-cash information:

Right of use assets obtained in exchange for operating lease liability

$

78,801

$

3,038

$

4,985

Due from related party offset with due to related party upon execution of
debt offset agreement

$

–

$

1,812,949

$

–

Shares issued as prepayment for acquisition of subsidiary

$

1,173,920

$

–

$

–

 

 

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